daytrades may 13 morning ...

Happy 'Black Friday' Traders,

US Market Report:

Stocks followed commodities, rebounding from their lows to end higher Thursday afternoon.

Stocks had started the day in sell mode, weighed down by lower commodity prices and a dour outlook from Cisco Systems. But the momentum shifted midday as commodities erased earlier losses and the dollar pulled back against the euro.

Oil prices rose almost 1% to settle at $98.97 a barrel. Earlier, crude had sold off more than 3%. Gold prices also turned higher, rising 0.4% to $1.507.40 an ounce. Silver remained in the red, but was only off 2% to $34.80 an ounce. [Source: cnnmoney.com]

Market Reflections - Thursday, 12th May, 2011
A dip back in initial weekly jobless claims boosted the outlook for the jobs market though claims still remain elevated compared with a month ago. Retail sales were solid though growth in some sectors is starting to slow. The news supported the Dow which gained 1/2 percent to 12,695. Oil traded in a wide range to end near $99 with gold holding over $1,500. [Source: bloomberg.com]

Market Focus in the US this evening

Surprising softness in consumer prices would extend the outlook for low rates in what would be a big plus for the stock market. [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Up 65.89 points; and
The SPI Futures are currently: Up 26 points atm.
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Of note in the US this evening:

Consumer Price Index [ Market moving indicator]

Consumer Sentiment [ Merits extra attention]

...AND...

Of note in Australia today:

Please note there is no noteworthy 'Economic news' being reported in Australia today.

...AND...

Of note elsewhere today/this evening:

European Monetary Union - Gross Domestic Product s.a. (QoQ) (YoY) (Q1) [ Merits extra attention]

European Monetary Union - ECB Trichet's Speech [ Merits extra attention]

Switzerland - Producer and Import Prices (MoM) (YoY) (Apr) [ Merits extra attention]

Germany - Gross Domestic Product (QoQ) (YoY) (Q1) [ Merits extra attention]

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]

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Gold is currently trading Down $1.90 & is sitting at US$1,505.00/oz atm [Source: Kitco]
Oil (Nymex Crude) is currently trading Down $0.16 & is sitting at US$98.81/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0660c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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